Disposition of Securities of Guyana Goldstrike Inc.

VANCOUVER, BC, Oct. 23, 2024 /CNW/ - This press release is being disseminated as required by National Instrument 62‐103 in connection with the filing of an Early Warning Report regarding the acquisition of securities of Guyana Goldstrike Inc. (the "Issuer").

On October 22, 2024, Gold Mountains Asset Management Limited (the "Acquiror") ceased to have control over 800,000 common shares of the Issuer (the "Common Shares") following the completion of a return to treasury order in the amount of 800,000 Common Shares submitted by Zijin Midas Exploration Fund LLC to the Issuer (the "Disposition"). There was no compensation paid to the Acquiror or the Issuer following the completion of the Disposition.

The Acquiror is a wholly-owned subsidiary of Zijin Mining Group.

Immediately prior to the Disposition, the Acquiror had control over 4,060,000 Common Shares, representing 10.46% of the issued and outstanding Common Shares of the Issuer.

Following the Disposition, the Acquiror has control over 3,260,000 Common Shares, representing 8.58% of the issued and outstanding Common Shares of the Issuer. The 3,260,000 are owned by Zijin Global Fund.

The securities that are subject of this report are held for investment purposes and not for the purpose of exercising control or direction over the Issuer. The Acquiror may, from time to time, increase or decrease its shareholding or continue to hold common shares of the Company as it may determine appropriate in the normal course of investment activity. In the future, the Acquiror may, directly or indirectly, acquire additional common shares of the Company or dispose of such shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

A copy of the Early Warning Report to be filed by the Acquiror will be available on SEDAR+ under the Company's profile on www.sedarplus.ca or can be obtained by contacting:

Joyce Chan
Unit 7502A, Level 75, ICC, 1 Austin Road West, Kowloon, Hong Kong
+(852) 2803 2280

SOURCE Gold Mountains Asset Management Limited